National market update

WASHINGTON (June 23, 2014) – Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to the National Association of Realtors®. All four regions of the country experienced sales gains compared to a month earlier.
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New Home Construction Needed to Match Job Creation, Improve Affordability in Majority of U.S.

"WASHINGTON (June 10, 2014) – New home construction activity is currently insufficient in most of the U.S., and some states could face persistent housing shortages and affordability issues unless housing starts increase to match up with local job creation, according to new analysis by the National Association of Realtors®.Read more

National housing indicators

Existing home sales ()

4.89*

Existing home median price ()

$213,400

Housing Starts ()

1,001,000*

New home sales ()

National economic indicators

Home ownership

1st Qtr 2013

+65.0%

1st Qtr 2014

+64.8%

The homeownership rate in the first quarter 2014 was 64.8 percent, down 0.2 (+/- 0.4)* percentage points from the first quarter 2013 rate of 65.0 percent. The homeownership rates in the Northeast, Midwest, South and West were not statistically different from the rates a year ago.

New home sales

April 2014

+3.7*%

May 2014

+18.6%

Sales of new single-family houses in May 2014 were at a seasonally adjusted annual rate of 504,000. This is 18.6 percent (+/- 17.3%) above the revised April 2014 estimate of 425,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Local Sales & Price Activity

Keith Owens

Just because Summer is over, doesn't mean that home sales stop. September through November are still great months. Add the fact that interest rates still range from the high 3's to the high 4's makes this one of the best times ever to purchase a house. Call The Owens Team for any real estate questions. We'll be happy to help!

Interest Rates continue to rise towarads 5% and above due to inflation, and demand for housing is rising as well. Now may be the best time to buy a home. Call us if you have questions on the next step!

Disclaimer: The views, opinions, statements and/or ideas expressed in this Message Section do not reflect the ideas, policy, position, views or opinion of Move,Inc.

Consumer tips & hot properties

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How Long Does It Take to Buy a Home?

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4 Tips to Help You Pre-Qualify For a Loan

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